Rich Indians look to Caribbean funding programmes

New Delhi [India]May 18 (ANI / Mediawire): High net worth individuals in India are looking for safer, easier ways to diversify their wealth. Given the uncertainty surrounding health care, particularly due to the pandemic, and recently tightened tax regulations, many wealthy Indians are moving overseas to provide their families with better lives and more stable prospects for their financial investments.

However, a report by the Global Wealth Migration Review found that nearly 5,000 millionaires moved overseas in 2020 alone. This is indicative of the mass exodus in India that is being accelerated by Covid-19 and the deadly second wave that is currently hitting the country.

Prashant Ajmera, Indian lawyer and author of Millionaires on the Move, noted how the government is trying to help wealthy Indians invest overseas.

“In recent years the Indian government has introduced and implemented various policies that enable and encourage Indians to invest overseas. Indian HNWIs can certainly benefit from these policy changes and many high-level HNWIs (individuals with assets in excess of a million Dollars in) profit financial markets) have already started investing outside India, “Ajmera said.

However, as of last month, Indian citizens have been taxed on their worldwide income. Under the amended law, overseas Indians earning Rs 15 lakh and more on time deposits, dividends and rents from India will have to pay tax on what they earn outside India if that global income is not taxed in any other country. This has put further pressure on the upper class Indians to diversify their wealth more effectively.

Citizenship through investment programs has long been used as an effective and quick means of obtaining citizenship in another country. The Caribbean, in particular, has always been a popular choice for the Indian market with the programs “Obtaining citizenship in St. Kitts and Nevis or Dominica opens doors to visa-free travel, which has always been a huge draw.” Pandemic, it’s a lifeline. With concerns over health, leadership and the limitation of opportunities to diversify wealth, we see a growing Indian market looking to invest in one of the Caribbean islands to help themselves and their families have better lives, “said Paul Singh, Director at CS Global Partners.

Easier access to the rest of the world, particularly the UK and the US, enables greater business opportunities. Whether as an entrepreneur who wants to stay globally competitive and travel fast, or as an entrepreneur who wants to work remotely but stay connected in an idyllic environment. Citizenship in the Caribbean can open the doors that are needed in an increasingly constrained world.

It is important to invest in a reputable and trustworthy program. The focus is on due diligence to ensure that only serious investors are allowed into the country. One of the ways to get citizenship is by investing in real estate. Dominica has numerous five-star eco-resorts to invest in, including: St. Kitts and Nevis, which focus on education, have many respected medical schools for tertiary education in the Caribbean. They offer high quality medical education and clinical training and have high acceptance rates and often slightly reduced tuition fees. The St. Kitts and Nevis University of Medicine and Health Sciences is a private medical school offering students a doctorate in medicine. Graduates affiliated with over 20 teaching hospitals in the United States also have the option of elective rotations at one of hundreds of hospitals across the United States.

Citizenship can also be passed on to future generations. Investors with larger families can now take advantage of a temporary discount that grants citizenship to a family of four for $ 150,000 instead of $ 195,000 – a discount of $ 45,000.

“The Indian community in the Caribbean is growing and wealthier Indians are looking to invest for a variety of reasons. To diversify businesses and assets, or to provide a better quality of life for their families. Covid-19 has been a major driver The devastating effects of this second wave are increasing Getting Indians to think about moving abroad. They don’t want to feel the effects that another wave will have on the country economically and health-wise. Understandably, they want to protect themselves and your families and citizenship through investments make it possible this at a rate that is second to none than the usual waiting times of 3 to 5 years for citizenship, “said Singh.

For more information, please contact CS Global Partners at [email protected] or WhatsApp at 447867942505. This story is provided by Mediawire. ANI is in no way responsible for the content of this article. (ANI / Mediawire)